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Voodo Economics circa 2011: The Magic of BKS Numerology Roils Markets and also Government Policy-Making
By Dave Lindorff
It is part of America’s state religion, the Free Market fundamentalist religion that is accepted as gospel by all leading politicians, by the “brain trust” that sets goverrnment economic policy, and by the supposedly hard-nosed analysts who convince American investors where to put their money, that “markets know best.”
How then to explain the panicked reaction of investors and markets to the Labor Department’s monthly Bureau of Labor Statistics report on the latest monthly jobs and unemployment figures?
Frankly that's very easy to answer, the country refuses to demand it's own sacrifice the greater majority cheer on but don't serve in or have direct connection to, especially the political party claiming their strength on "National Security" and it's the total opposite of what's being argued as to this debt ceiling and the growing deficit itself, remember these two present conflicts were kept off the books and fought on borrowed financing until put back on the books and our spending by the present administration. All those costs include the no bid contracts of the growing private armies as well as the numerous other private contractors serving a bottom line and not the country.
By Linn Washington, Jr.
So, some black folks are bashing Princeton Professor Cornell West for his sharply phrased critiques of President Barack Obama’s failure to specifically address crisis- proportion problems in a long-suffering segment of American society: the black community.
Black supporters of the first African-American president echo the rationale advanced by Obama himself that he is the president of all Americans so addressing issues specific to African-American would be inappropriate.
However, that view side-steps the critical issue of the very American right to criticize a U.S. President.
Compounding the First Amendment criticism issue is the reality that Obama has addressed issues important to specific groups, including gays and women. He has even been addressing the issues of his political adversaries, the Republicans, like his embracing their demands for deficit reducing austerity by slashing services to the most needy.
By Dave Lindorff
In ways little and huge, it is clear that we live in a nation, a culture and a society that is terminally ill.
The latest outrage -- the likely execution of a Mexican convicted in Texas of the brutal slaying of a 16-year-old girl in blatant violation of a universally adopted international treaty that requires that as a foreigner he be able to notify his home country’s consulate of his case -- is evidence of this sickness, which appears to have both physical and mental aspects.
As a journalist I have traveled widely in the world, often in police states like China or Laos, and I have always trusted in the fact that if I ran afoul of those police, at least I could count on the fact that the authorities would be legally bound to notify my embassy, so that I could get international attention and, hopefully, legal assistance.
By Linn Washington, Jr.
Given the stark desperation stalking so many communities around an America oozing from miseries embedded in the stagnant economy, it’s almost an inane exercise to contemplate the state-of-democracy in this nation on July 4th -– Independence Day.
All of the flag waving, fireworks and fun of this national holiday can’t mask the disturbing fact that democracy in America is under unprecedented onslaught from forces intent on engaging in economic exploitation comparable to the colonial crown domination that compelled Americans to rebel against England over two hundred years ago.
Examples of this onslaught abound with one of the most pronounced being federal and state level elected officials – overwhelming Republican – bludgeoning and eliminating benefits that have aided the middle class and the poor, in the name of budget balancing austerity, while simultaneously battling to protect the profits and assets of the wealthy.
A 'Patriotic' U.S. company ripping off the Army and the American Tax Payers, and military procurement officers allowing it to happen, knowing many will go to work for these defense contractors after their service, especially with two long occupations still ongoing, say it ain't so!
Exciting times over here, to say the least! The June 14th Flag Day Rebellion against economic tyranny is growing much stronger and more rapidly than anticipated. As a small part of a decentralized movement, it’s hard to measure the overall impact, but my email inbox is exploding with support and interest. This movement is definitely succeeding in uniting people from all over the political spectrum. Hardcore progressives and libertarians have found common cause. Liberals who are sick of “spineless Democrats.” Conservatives who have had enough of “crony-capitalist and imperial Republicans.” Apolitical people who are sick and tired of living paycheck to paycheck, struggling to get by. The foreclosed upon. The unemployed. People desperately surviving off of food stamps.
By Dave Lindorff
It was just as recently as a year ago that the authorities in politics, business and academe were stating boldly and confidently that the nation's economy was on the mend, and that there was no chance of a backslide into recession again.
Take Lakshman Achuthan and Anirvan Banerji who are, respectively, co-founder and chief operating officer and co-founder and chief research officer of ECRI, the Economic Cycle Research Institute.
"The good news is that the much-feared double-dip recession is not going to happen," they said on CNN on Oct. 28, last year. "After completing an exhaustive review of key drivers of the business cycle, ranging from credit to inventories and measures of labor market conditions, we can forecast with confidence that the economy will avoid a double dip."
The big banks have sold us out.
Democrats and Republicans have sold us out.
No one is defending our interests.
Our future is going up in flames.
It’s time for us to stand up and defend ourselves.
Trillions of dollars in fraudulent activity by the big banks on Wall Street caused our current economic crisis. Paid off politicians from both parties, along with secret deals made by the Federal Reserve, gave trillions of taxpayer dollars and subsidies to the very people who caused our crisis. After taking our tax dollars, they had the audacity to give themselves all-time recording-breaking bonuses and consolidate wealth in unprecedented fashion within the economic top 0.01% of the population.
By Dave Lindorff
Amid all the nonsense and gobbledegook that has been written about banking industry and about the economic slump during the last four years of the global financial crisis, New York Times reporter Gretchen Morgenson has stood out both for the clarity of her analysis, and for her willingness to go after the guilty parties in the political and especially the banking system, naming names and calling it as she sees it.
So it was kind of disappointing--even shocking--to read her latest article reporting on a new “study” by Peterson Institute for International Economics Senior Fellow Joseph Gagnon, warning about the nation’s growing debt crisis.
The Peterson Institute, founded by Wall Street tycoon Peter Peterson, has long been gunning for the Social Security and Medicare systems, which he, and the rest of the Wall Street gang, see as unfairly competing with Wall Street for the assets of the public, and as destructive of the “free market.”
A Jarring Disconnect: If Joblessness and Hopelessness Undermine Democracy in the Middle East, What About Here at Home?
By Dave Lindorff
In his latest speeches on the Middle East, President Obama, both at the State Department and at the G8 meeting in France, has pledged billions of dollars in economic aid to Middle Eastern countries, drawing a direct connection between the unrest and demonstrations that brought down the dictators in Tunisia and Egypt, and the joblessness and hopelessness felt by the young people in those two countries.
His adviser on international economics, David Lipton, has been more specific, saying that, “We believe that these two pillars go hand in hand. Without economic modernization, it will be hard for governments trying to democratize to show people that democracy delivers.”
Unemployment in Egypt among young men and women is about 30%. In Tunisia, it is over 40%. The White House claims that with figures like that, the future for democracy in those countries is tenuous.
By Linn Washington, Jr.
The U.S. government won convictions against 23,506 drug traffickers nationwide during 2010, sending 96 percent of the offenders to prison, according to U.S. Sentencing Commission statistics.
Yet one of the biggest entities busted by the feds for involvement in drug trafficking last year received just a wrist-slap deal from federal prosecutors with nobody getting prison time.
During 2010, the U.S. government also won convictions against 806 persons involved in smaller-time drug-related money laundering, sending nearly 77 percent of those offenders to prison.
Yet when it came to a case involving billions of dollars in illegal drug profits, the federal government gave the same unusual wrist-slap to the same entity caught giving greed-blinded assistance to Mexican drug cartels by laundering billions of dollars in illegal profits for them.
By Catherine Hornby
ROME | Wed May 18, 2011
(Reuters) - Up to 27 million people are modern-day slaves, and migrants fleeing violence in North Africa are among those most at risk of being exploited, a senior U.S. official said on Wednesday.
Countries where migrants arrive should try to identify potential victims and protect them, rather than opting for immediate repatriation which often sends them back into the hands of human traffickers, U.S. Ambassador-at-Large Luis CdeBaca said.
Tens of thousands of migrants are fleeing turmoil in North Africa, with many trying to reach Europe by boat, but the problem of slavery exists all over the world and India, Thailand and Malaysia are among the worst-affected countries.
BBC News - 19 May 2011
A US governor has signed a bill requiring a French railway company to disclose its role in the Holocaust if it is to win state contracts.
Martin O'Malley of Maryland signed a bill aimed at Keolis, a Paris company owned by French national railways SNCF.
The company had bid to operate commuter trains in the state of Maryland.
Historians say SNCF moved 76,000 Jews to Nazi camps during the Holocaust. The laws' supporters say it will force disclosure of war records.
"We hope this legislation can become a national model sooner rather than later so that Holocaust survivors who are still with us can know that the atrocities inflicted upon their families and their people will remain in our minds, will never be forgotten and will never be repeated," Mr O'Malley said on Thursday.
With prince having a U.S. flag stamped on his forehead, done in our names, al Qaeda move over, new kid, same as the old, on the block!!
18 May 2011 - You can buy a war for half a billion dollars. But get in quick. That's at current market prices.
Costs may rise following last Saturday's New York Times story revealing that the United Arab Emirates has paid $529m to a company set up by Blackwater boss Eric Prince to recruit and train a mercenary army to undertake 'special missions' against the oil state's enemies, defend oil pipelines, crush internal opposition and so forth.
I hit the pavement today, running a reel of the past few months through the windmills of my mind. I’ve spent so much time, lately, in rooms of joy and sorrow, and hotels, and towns where I catch my reflection in some store window and think: Who is she?
I traveled with one son to visit another. Was sitting outside when the younger said, “Mom, you have beautiful feet. You have the feet of a sixteen-year-old.” Before I could tell him I know this, he continued, “It’s a shame I can’t say the same about your face.”
He and I had been discussing the dollar and what he calls my freak-ass economic doomsday tune. The whole foot thingy probably was an attempt to shift the subject.
Continuing the lawless damage his private mercenary armies have already created, and greatly enhanced, in the name of the United States and citizens of! The equivalent of al Qaeda but in the U.S. brand and stamp!
Documents show 800-strong mercenary force is aimed at UAE's external — and internal — foes.
May 15, 2011 - Late one night last November, a plane carrying dozens of Colombian men touched down in this glittering seaside capital. Whisked through customs by an Emirati intelligence officer, the group boarded an unmarked bus and drove roughly 20 miles to a windswept military complex in the desert sand.
13th May 2011 - The Chilcot Inquiry into the disastrous Iraq War has been a largely depressing affair.
It has cost millions of pounds, dragged on for two years and – when the key players appeared before the inquiry panel – the questioning was unfocused and inadequate.
Tony Blair and Alastair Campbell were slippery, unrepentant and able to complete their evidence unscathed –much to the anger and disgust of the families of the 179 soldiers who gave their lives in this most bloody of conflicts.
April seemed to drift in, whimpering and, then, banging shut. Caresses and blows.
Easter slid by. Where was I? North Carolina? Kentucky? Maryland?
Easter’s just candy, anyway, shaped like eggs, and a White House lawn with children on the hunt. Though I do remember something about a rock rolled away from a tomb.
Prince William and Kate were royally rocking and rolling, a circumstance of pomposity.
Now, we’re a week into May, Derby time with a parade of hats and thoroughly bred animals. Oh, and horses, too, racing for the first jewel in the Triple Crown, no thorns allowed.
This is celebration season. And many are celebrating death—the assassination of that mythical decider who claimed responsibility for “inspiring” 9-11 and scared us to bookstores to purchase bibles in freedomville where we can shop and choose a wireless plan with a special friends-and-family rate, radiation exposure, dropped calls, and surveillance included.
On May 1st, An Infuriating Anniversary, the day of the Mission Accomplished' Speech and Banner as to Iraq eight years prior, the War of Choice, that turned the Afghan Operation into same, nothing to do with 9/11 al Qaeda nor bin Laden, the Afghan 'Mission is Finally Accomplished', bin Laden dead, after creating possibly thousands of bin Ladens seeking blowback!
Tens of thousands dead, millions turned into refugee's, lives and countries destroyed, and still no 'Sacrifice' as to the results for the Veterans of nor Accountability for the lies of those who ordered the destructive decade plus, Still Ongoing!!
Does one need to serve, no, but that one had better choose his or her words very carefully, especially those 'his', when spinning what they think is wrong with a Country they avoided like a plague to do that service in their younger years!! Oh ya and Especially if one likes to brag about their vast wealth, some probably left to them other gained by investing in defense industry corporations, and Doesn't Demand they 'Sacrifice' for the Veterans, and Families of, sent into the wars of choice which reap those huge defense profits!!
How the presidential aspirant avoided fighting for his country
By John Grant
Some men rob you with a six gun.
Some do it with a fountain pen.
“Pretty Boy Floyd”
We hear a lot about what democracy is about in America. Some of it is true and some of it is the usual boilerplate crap. Whatever you hear about the Cheri Honkala Green Party campaign for Sheriff of Philadelphia – and of course there’s a lot of crap going around -- one thing is true, it’s real democracy in action.
They should take a poll as to our, the U.S., standing now in this world stage and it wouldn't have even needed Wikileaks to be mentioned, Especially as we've made no move to dig out the accountability!!
Apr 26, 2011 - A 24-country poll found that most people believe WikiLeaks co-founder Julian Assange is not a criminal and should not be charged by the U.S. government for releasing thousands of secret U.S. documents.
The poll by Ipsos found 79 percent of people were aware of WikiLeaks and two-thirds of those believed Assange should not be charged and three-quarters supported the group's bid to make public secret government or corporate documents.
Can't say Nobody told them so!!!!
Reuters: A British Army soldier investigates a large fire near Basra's Shuiba refinery
19 April 2011 - Plans to exploit Iraq's oil reserves were discussed by government ministers and the world's largest oil companies the year before Britain took a leading role in invading Iraq, government documents show.
The papers, revealed here for the first time, raise new questions over Britain's involvement in the war, which had divided Tony Blair's cabinet and was voted through only after his claims that Saddam Hussein had weapons of mass destruction.
An 'Oh Please!' Moment; Is S&P Running Interference for the Right to Help Crush Social Security and Medicare?
By Dave Lindorff
Today’sbreathless anxiety-inducing headline was that Standard & Poors, the rating agency, has issued a “negative outlook” warning on US sovereign debt, claiming that the US, in comparison with other countries with a top AAA credit rating, has "very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us". S&P warned that there was a “a one in three chance that the US could lose its AAA rating in two years because of its mounting debt.”
The ratings firm--one of three global companies that Wall Street relies upon to establish the credit ratings of companies and nations around the world--said its analysts had “little confidence” that the Obama administration and the divided Congress would reach any agreement on a deficit-reduction plan before the next national election in the fall of 2012, and that they doubted that any such plan would be adopted until after 2014, two whole Congressional elections away.
Obama’s Deficit Plan Starts at the Center Right; Where Will He End Up?
By Kevin Zeese
President Obama announced the outlines of his deficit plan, leaving a lot up for negotiation. He planted his poll at the center right and where he ends up, with his history of compromising to bring right wing Republicans and Democratic corporatists together, can only be worse.